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Economic and Regional Determinants of the Location of Payday Lenders and Banking Institutions in Mississippi: Reconsidering the Role of Race and Other Factors in Firm Location

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  • Wheatley, W. Parker

    (St. Johns University)

Abstract

Using data for Mississippi, this paper revisits Burkey and Simkins' (2004) work on factors determining the number of payday lenders and banks. With data at two levels of geographic aggregation, the paper discovers whether empirical results are robust and allows for uncertainty in geographic definition of markets. Demand factors of population, income, and wealth have important impacts. Percentage of population with college education depresses numbers of payday lenders. Evidence indicates that banks are less likely to locate in African American areas, but the results show that race is neither a positive nor a statistically significant determinant of location for payday lenders.

Suggested Citation

  • Wheatley, W. Parker, 2010. "Economic and Regional Determinants of the Location of Payday Lenders and Banking Institutions in Mississippi: Reconsidering the Role of Race and Other Factors in Firm Location," The Review of Regional Studies, Southern Regional Science Association, vol. 40(1), pages 53-69.
  • Handle: RePEc:rre:publsh:v:40:y:2010:i:1:p:53-69
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    File URL: http://journal.srsa.org/ojs/index.php/RRS/article/view/214/169
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    References listed on IDEAS

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    1. Burkey, Mark L. & Simkins, Scott P., 2004. "Factors Affecting the Location of Payday Lending and Traditional Banking Services in North Carolina," The Review of Regional Studies, Southern Regional Science Association, vol. 34(2), pages 191-205.
    2. H. Damar, 2009. "Why Do Payday Lenders Enter Local Markets? Evidence from Oregon," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 34(2), pages 173-191, March.
    3. Edward C. Lawrence & Gregory Elliehausen, 2008. "A Comparative Analysis Of Payday Loan Customers," Contemporary Economic Policy, Western Economic Association International, vol. 26(2), pages 299-316, April.
    4. Bekkerman, Anton & Goodwin, Barry K. & Piggott, Nicholas E., 2008. "Spatio-temporal Risk and Severity Analysis of Soybean Rust in the United States," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(3), December.
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    Cited by:

    1. Scott Hegerty, 2016. "Commercial bank locations and “banking deserts”: a statistical analysis of Milwaukee and Buffalo," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 56(1), pages 253-271, January.
    2. Scott W. Hegerty, 2016. "Commercial bank locations and “banking deserts”: a statistical analysis of Milwaukee and Buffalo," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 56(1), pages 253-271, January.

    More about this item

    Keywords

    Bank; Banking; Firm Location; Race; Regional;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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